LOS ANGELES (Reuters) - Longtime Nike executive John Slusher on Wednesday was named CEO of the U.S. Olympic and Paralympic Properties (USOPP), the entity charged with marketing and selling commercial assets for the 2028 Games in Los Angeles and rights to Team USA through 2028.

Slusher will oversee all LA28 and USOPP revenue including domestic sponsorship, consumer products, hospitality and ticket sales, LA28 said in a statement. 

Slusher previously spent 26 years at Nike ( NKE ), where he led global sports marketing and oversaw relationships with the sportswear company's athletes and properties.

"John's expertise in the global sports industry is second to none," said Casey Wasserman, LA28 president and chairperson.

"He's an excellent addition to the best-in-class team we've assembled to execute an Olympic and Paralympic Games unlike the world has ever seen."

The position was last held by former LA28 CEO Kathy Carter and has been vacant since she left LA28 in December 2023.

The Los Angeles Games are privately funded with revenue from corporate partners, licensing agreements, hospitality, ticketing programs and a significant contribution from the International Olympic Committee.

The southern California city, which previously hosted the Games in 1932 and 1984, has said it will keep costs down by utilizing its existing sports venues and university campuses.

The LA28 budget is $6.9 billion.